Indeed, the recent stablecoin bill includes exemptions for the President, Vice President, and their families. One reason for this is that the U.S. Constitution sets different standards for presidential powers and ethical conduct compared to those for members of Congress. Additionally, both parties are more eager to prioritize the management of stablecoins over issues concerning the President, which is why progress has been so swift.

However, this is primarily in the Senate, and there is a possibility that the House may adjust the bill. Currently, the biggest point of contention among opponents is the fact that the President can issue stablecoins, and that he has indeed done so.

"This bill, while accelerating the development of the stablecoin market, fosters presidential corruption, undermines national security, financial stability, and consumer protection, and is even worse than having no bill at all," said Democratic Senator Elizabeth Warren during her speech in the Senate in May.

"In the process of advancing these bills, lawmakers missed the opportunity to expose Trump's cryptocurrency scam, which is the largest and most blatant act of corruption in presidential history," said Bartlett Naylor, a financial policy advocate for the consumer rights organization Public Citizen.

However, in the cryptocurrency field, who issues the coins is not the key issue; what matters most is whether they can be smoothly redeemed. Currently, USD1 is held in custody by BitGo Trust Company, with institutions like Fidelity responsible for the holding and daily management of reserve assets.

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